Never Tell Me the Odds

In a board call last month, I finally told everyone that the commission savings that Redfin offers home sellers and home buyers dramatically lowers our profits margins and there is no evidence that it drives more revenue. We have, I told our investors, given away $100 million because of my irrational belief that Redfin was… Read More

Growing, Fast and Slow

“Greed,” Gordon Gekko once declared, “is good.” Oliver Stone’s private-equity titan was referring to the process of creative destruction, in which ravenous corporate raiders strip a businesses to its bones in three months flat. Venture capitalists have the same simple attitude toward growth: growth is good. Their fish of choice is not a piranha but… Read More

How Stupid Can You Be?

Catherine Rampell at the New York Times today reports that “state colleges in Nebraska, Nevada, South Dakota, Colorado, Michigan, Florida and Texas have eliminated entire engineering and computer science departments” due to budget cuts. How are we doing in Washington state? Well, consider a few facts about the University of Washington’s computer science department: The department… Read More